CIES Football Observatory has released a list of the total money spent by different English Premier League club’s in assembling their present squad.

Following the closure of the summer transfer window, the CIES Football Observatory compiled a list of the most expensive squad in the Premier League this season. Unsurprisingly, this season’s biggest spenders Manchester City, who spent in excess of A?150 million, have the most expensive squad in all of Premier League.

Last seasons runners-up, City, have spent astronomical amounts for the capture of Kevin de Bruyne, Raheem Sterling and Nicolas Otamendi.

The Citizens are closely followed by neighbours Manchester United, who have also spent a fortune in trying to overhaul an ageing squad left by Sir Alex Ferguson. Under Louis Van Gaal the Red Devils have spent close to A?250 million and the Dutchman has incredibly been at the helm for around 14 months.

Last season’s champions Chelsea FC have the third most expensive squad in the league. The Blues have been shrewd in the business they have conducted and have made it a point to not overpay for a player after the A?50 million spent on the purchase of flop signing Fernando Torres.

Liverpool FC, who have undergone a second successive overhaul after the transfer of Luis Suarez to FC Barcelona make their way into the top four, displacing Arsenal FC from their favoured position. The Anfield club have parted with A?32m for the signing of Christian Benteke and a further A?29m for the capture of Roberto Firmino.

Arsenal FC, the most dormant side in this season’s transfer window, who signed only one player and made no outfield signings find themselves just outside the top four at fifth position. The Gunners spent A?10m for the services of goalkeeper Petr Cech from rivals Chelsea FC.

We take a look at the top five teams and whether they would be able to justify their spending.

1. Manchester City – a 560 million

Manchester City vs Watford

Manchester City have started the season perfectly, scoring 10 goals in their first four Premier League goals and are yet to concede one. The Citizens are currently at the top of the Premier League and have looked almost unstoppable at times. Manuel Pellegrini would be aiming to lift his second league title in three years and nothing less would be expected from him, by the club’s oil-rich owners. There are no obvious weaknesses in City’s squad after a fruitful if a little over-the-top transfer window.

2. Manchester United – a 533 million

Manchester United have been the most active club in the last two summers and the onus is on Louis Van Gaal to turn the exorbitant spending into results on the pitch. The Old Trafford faithful would be expecting that the Dutch manager is able to mount a serious title challenge with the players at his disposal; however, some glaring weaknesses have probably been overlooked by the club.

The Red Devils lack a 30-goal-a-season striker and question marks have been raised over the ability of Wayne Rooney to lead the line. The club did spend a record fee of A?36m for the capture of teenager Anthony Martial on deadline day and will be hoping that the French striker is able to justify his lofty price tag. Manchester United also lack a solid defender to partner Chris Smalling and why Van Gaal didn’t spend the abundance of wealth at his disposal to recruit a world class defender has baffled many, if not all.

3. Chelsea FC – a 407 million

West Bromwich Albion vs Chelsea

Chelsea FC have endured their worst start to a Premier League campaign and the club would be hoping the addition of FC Barcelona superstar Pedro could spark life into their insipid attack. The Blues have lost two matches in their opening four Premier League fixtures and Jose Mourinho has a huge task at hand, if he is to overcome his usual third season slump and try and retain the title.

The lack of pace in Chelsea FC’s defence has been exposed time and again this season and it was quite unlike Mourinho to not spend big to rectify the problem. The defence could prove to be Mourinho’s undoing this time around and barring a Special resurgence after the international break, the Blues cannot be considered front-runners for the title.

4. Liverpool FC – a 344 million

Liverpool FC surprisingly decided to persist with manager Brendan Rodgers, despite the poor league finish of last season and have backed the Northern Irishman in his pursuit of some of the more expensive players. The Reds would be expecting an entry in the top four as the minimum acceptable finish this season; however, it remains to be seen how quickly and efficiently Rodgers is able to settle his new recruits into the side.

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The Anfield side make it to the list of the most expensive Premier League squad at fourth position and their owners would be expecting Rodgers to deliver an identical, if not better, league position this season.

5. Arsenal FC – a 307 million

Barclays Asia Trophy tournament in Singapore

Arsenal FC were billed as one of the title contenders for this season’s Premier League, but considering their stuttering start to the campaign coupled with their inactivity in the transfer market, it would be a surprise if they can mount a serious title challenge. Even the staunchest of Wenger’s supporters have turned on the Frenchman after the club failed to recruit a striker and a defensive midfield cover during the transfer window.

There has been this notion doing the rounds that the 65-year-old believes that his squad is good enough to realistically challenge for the Premier League title. However, the lack of a world class striker, who could deliver 30 goals, has been evident in their opening four games of the season. If Wenger does indeed manage to win the title with the squad he has at his disposal, it may go on to supersede ‘The Invincibles’ at being the most incredible achievement by the Frenchman.

Only time will tell what the season holds for the various clubs, but by the looks of it, Manchester City are the frontrunners in the chase for the coveted trophy this time out.